Bitcoin recently experienced a pullback into a key support zone near $106,133, but price action remains bullish. Market structure suggests a continuation toward $125,400 if support holds firm. Despite a short-term dip in Bitcoin’s (BTC) price, the larger technical picture…

Bitcoin price dips into support – bullish market structure signals push toward $125K

**Key takeaways:**
 * Short-term Bitcoin holders realized $11.6 billion in profit over the past 30 days, suggesting a potential pause or local top in the market.
 * Technical indicators show cooling momentum as retail investor sentiment falls to a 90-day low and liquidity data points to price volatility.
Bitcoin (BTC) price recently hit a new all-time high of $111,800, but the 
bullish momentum may slow down as onchain data from Glassnode reveals 
significant profit-taking by short-term holders (STHs), potentially signaling 
a market &#8220;breather.&#8221;
Glassnode analysis shows that STHs, often considered traders rather than long- 
term investors, have realized a staggering $11.6 billion in profits over the 
last 30 days. This follows a sharp rebound in Bitcoin&#8217;s price, pushing past 
the STH cost-basis of $93,000. The profit-taking peaked at $747 million daily, 
a rapid increase from the $1.2 billion realized in the last 30-day period, 
highlighting a shift in new investor sentiment.
_Bitcoin entity-adjusted short-term holder. Source: Glassnode_
The STH Realized Profit/Loss Ratio has spiked, with profits now significantly 
outweighing losses, and only 8% of trading days have seen this ratio at a 
higher level.
This level of profit-taking is typical during bullish trends but often 
precedes local market tops. Excessive profit-taking can overwhelm new demand, 
creating overhead supply resistance and halt Bitcoin&#8217;s upward trajectory.
Crypto analyst Axel Adler Jr noted that Bitcoin&#8217;s 30-day price momentum has 
already slowed by 38%, currently sitting at 19%. Adler described it as a 
&#8220;technical cooldown&#8221; after the recent peak. The Bitcoin researcher suggested 
the market needs a &#8220;breather&#8221; before potentially resuming its rally.
Similarly, analysis from Hyblock Capital advised caution as the previous three 
months outlined Bitcoin consistently targeting short liquidity zones above 
current prices, driving its recent highs.
However, retail sentiment is at a 90-day low, with only 31.59% of retail 
accounts holding long positions. Meanwhile, open interest is at a 90-day high, 
and combined order books sit in the 91st percentile, signaling high liquidity 
and potential volatility.
_Bitcoin aggregate order book and open interest. Source: Hyblock / X_
 _**Related: US Bitcoin ETFs near record month after $1.5B inflows in 2 
days**_
## Bitcoin open interest dropped by $1.2 billion as BTC fell under $110,000
Bitcoin experienced a sharp decline, dropping to $108,000 from $111,300 before 
the New York trading session opened on May 23. US President Donald Trump&#8217;s 
announcement of a 50% tariff on European Union imports, effective June 1, 
2025, triggered the price dump, which sparked global market uncertainty.
The price plunge resulted in a significant $1.2 billion open interest 
reduction in Bitcoin positions, signaling a wave of deleveraging as traders 
reduced futures exposure.
&gt; 🚨LATEST: #Bitcoin open interest exhibits a $1.2 billion position flush after 
&gt; $BTC drops below $110,000. pic.twitter.com/0ee46BiHGD 
&gt; 
&gt; &#8212; Cointelegraph Markets &amp; Research (@CointelegraphMT) May 23, 2025
Despite the initial sell-off, Bitcoin rebounded above $109,000, with 
speculators dismissing the sell-off period. Regarding the current market 
trend, crypto trader Honey pointed out that any corrections could be potential 
buying opportunities. The trader said,
&gt; &#8220;As expected we pumped and now that the golden cross has happened on BTC, we 
&gt; generally see a market-wide pullback so I&#8217;d be cautious here. Dips are for 
&gt; buying.&#8221;
_**Related: Bitcoin price drops 4% as Trump EU tariff talk liquidates over 
$300M**_
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Bitcoin price ‘breather’ expected as short-term traders realize $11.6B in profit

Bitcoin&#8217;s latest pullback has erased $560M in futures, mostly affecting long 
bets.

Bitcoin’s pullback from $111K wiped out $560M in crypto liquidation wave

Solana (SOL) is beginning to show signs of renewed strength as technical 
indicators hint at a potential breakout. On the weekly chart, the MACD is 
curling up and has recently crossed above the signal line, a bullish signal 
that often precedes major price movements. With momentum slowly building, 
traders are now watching closely to see if this shift marks the beginning of a 
larger rally. Momentum Builds For A Possible Solana Breakout In a recent X 
post, market analyst Willjayducks drew attention to a significant bearish 
divergence that unfolded on the Solana weekly chart. He pointed out that as 
the price surged into its blow-off top, the RSI and MACD indicators showed 
weakening momentum. This divergence between price action and momentum 
indicators is a classic technical pattern that typically precedes sharp 
corrections. Related Reading: Solana Flips Bullish: Price Climbs Above 
Ichimoku Cloud With Strong Momentum Following this setup, Solana experienced a 
steep decline, shedding approximately 67% of its value in just 84 days. 
According to Willjayducks, this dramatic drop suggests the bearish divergence 
has “arguably played out,” implying that the correction phase may be nearing 
its end. He further elaborated that the MACD is now curling upward and has 
recently crossed above the signal line. This crossover suggests that the 
recent downward pressure may be easing, setting the stage for a potential 
recovery. According to his analysis, if SOL can gather enough strength and 
sustain its current upward momentum, the MACD line could eventually cross 
above the zero line, a more definitive bullish signal that typically confirms 
a shift in trend. Should this scenario unfold, the analyst believes Solana may 
be poised to push toward new highs, reigniting interest among traders and 
investors. However, he also noted a word of caution: if or when this bullish 
breakout occurs, he’ll be closely monitoring the chart for any emerging signs 
of bearish divergence, which could once again hint at an overheated market. 
Bearish Outcome Still On The Table In the climax, the analyst mentioned that 
there is still a chance things just fizzle out here and continue into a bear 
trend. Despite recent bullish signals and technical improvements, he cautioned 
that the current momentum might not be strong enough to sustain a full 
reversal. Related Reading: Solana Short-Term Indicator Signals Potential Risk 
– Reversal Or Pause? While price action may stall, leading the market back 
into a prolonged period of downside movement, Willjayducks emphasized that all 
we can do for now is watch price action closely and plan for all scenarios. 
Whether the market pushes higher or fades into weakness, he advised staying 
alert and adaptable. Featured image from Adobe Stock, chart from 
Tradingview.com

Solana MACD Curling Up – Is This The Prelude To A Breakout?

Kalshi, a prediction marketplace based in the United States, has expanded its 
crypto support with the addition of Solana deposits. The marketplace announced 
it had enabled Solana (SOL) as a new account funding option on Friday, May 23, 
with this…

Kalshi adds support for Solana deposits

The U.S. Securities and Exchange Commission (SEC) has charged Alexandre 
Konanykhin with securities fraud after he allegedly swindled more than 5,000 
unsuspecting investors by inflating the value of his company’s Unicoin tokens. 
SEC Accuses Unicoin Leadership of $110M Investor Scam “Wanted dead or alive, 
Vladmir Putin, for mass murder,” the February 2022 Facebook post reads. […]